CSSPP Launches Guide To Private Pension System

The Private Pension System Supervisory Commission (CSSPP) yesterday launched "The Participant"s Guide To the Private Pension System," which is intended to be a practical tool for the beneficiaries of the private pension system in Romania and help them become familiar with the basic principles and mechanism of this system.

The Guide is available on the CSSPP website and, according to a press release, does not have regulatory value and is not intended to bestow any rights or impose any obligations.

The Guide offers an outlook to the private pension system, presenting its benefits, entities and safety features, as well as the contact information of all the institutions taking part in it.

By including a dictionary of the most frequently used terms specific to the private pension system and the world of financial investment into the Guide, the CSSPP intended to make the basics of the modern financial world and therefore of the private pension system more accessible to the beneficiaries.

"The Participant"s Guide To the Private Pension System" focuses on explaining the legal framework concerning the investment of the participants" assets with the utmost efficiency and lowest risks.

The Guide also states and explains the steps that a prospective participant needs to take throughout the four major phases of its relationship with the private pension system: signup, membership, transfer and collection.

The public access to education in financial services is regarded as highly important for ensuring the protection of the beneficiaries, especially considering the currently difficult circumstances on financial markets worldwide, the CSSPP press release indicates.